美国监管机构正酝酿十多年来最重大的银行监管改革，拟放宽补充杠杆率（SLR）要求，标志着特朗普政府金融去监管化进程迈入新阶段。据《金融时报》 援引知情人士消息，美联储、货币监理署（OCC）和联邦存款保险公司（FDIC）计划在未来数月内调整这项2014年实施的资本充足率规则，该规则要求大 型银行持有一级资本与总杠杆暴露（含表内外资产）的比率不低于5%。 作为后危机时代金融改革的核心指标，SLR旨在通过限制银行杠杆水平防范系统性风险。其计算公式为一级资本（含普通股、留存收益等高质量缓冲资产） 除以风险敞口总额，2008年金融危机后修订版特别强化了对大型金融机构的杠杆约束。然而，这项保护金融稳定的监管框架正面临十年来最激进的改革压 力。 银行业游说团体对此次改革寄予厚望。银行政策研究所首席执行官格雷格·贝尔指出，现行规则实质上惩罚了持有美国国债等低风险资产的金融机构，"在市 场流动性最紧缺的时刻，这反而削弱了银行支持国债交易的能力"。该机构数据显示，当前SLR规则使银行在29万亿美元规模的美国国债市场竞争力受损， 高频交易商和对冲基金得以占据更大市场份额。 监管松绑预期与特朗普政府整体政策方向高度契合。财政部长贝森特 ...

Core Viewpoint - The article discusses the economic challenges facing the United States, emphasizing the growing debt and deficit issues, and critiques the Biden administration's fiscal policies as unsustainable, potentially leading to increased taxes and reduced economic vitality [2][4][28]. Group 1: Debt and Deficit Concerns - The U.S. is facing urgent issues related to expanding debt and deficits, with criticism directed at the Biden administration for its unchecked spending during stable economic times [2][4]. - The article suggests that the government should gradually reduce spending to address debt and deficit issues without triggering an economic recession, noting that a $300 billion cut in spending could lead to a 1% decline in GDP [4][50]. Group 2: Inflation and Inequality - Current economic policies are contributing to rising inflation, disproportionately affecting the bottom 50% of wage earners, while asset owners benefit from stock market gains, exacerbating social inequality [2][35]. - The "ordinary person index" has reportedly increased by over 30% to 35%, indicating that the cost of living for lower-income groups is rising faster than the general consumer price index (CPI), which has risen by about 22% [35][36]. Group 3: Proposed Solutions - The article outlines several plans to address these economic challenges, including reducing government spending, adjusting the international trade system to bring manufacturing jobs back to the U.S., and utilizing tariffs to incentivize domestic production [5][50][52]. - A sovereign wealth fund is proposed to better manage national assets and create wealth for citizens, alongside the idea of "baby bonds" for newborns to promote long-term wealth accumulation [6][52]. Group 4: Regulatory and Tax Policy - Lowering energy prices and easing financial regulations are seen as essential for stimulating private sector growth and economic recovery [3][54]. - Tax cuts and regulatory relief are expected to boost GDP growth, with projections suggesting an increase from 1.8% to 3% or higher, which could alter the economic trajectory [58][59]. Group 5: Government Spending and Efficiency - The article emphasizes the need for government efficiency rather than merely cutting services, suggesting that reforms can lead to better outcomes with fewer resources [91][99]. - It highlights the importance of transparency in government spending and the need to address inefficiencies within federal programs, particularly in agencies like the IRS [100].